Latest News | Capital Small Finance Bank IPO Subscribed 50 Pc on Day 1 of Offer
Get latest articles and stories on Latest News at LatestLY. The initial share sale of Capital Small Finance Bank Ltd received 50 per cent subscription on the first day of bidding on Wednesday.
New Delhi, Feb 7 (PTI) The initial share sale of Capital Small Finance Bank Ltd received 50 per cent subscription on the first day of bidding on Wednesday.
The Rs 523 crore-IPO got bids for 40,77,696 shares against 81,47,373 shares on offer, as per data available with the NSE.
The portion for Retail Individual Investors (RIIs) got subscribed 67 per cent while the quota for non-institutional investors received 38 per cent subscription. The category for Qualified Institutional Buyers (QIBs) got subscribed 29 per cent.
The Initial Public Offering (IPO) has a fresh issue of up to Rs 450 crore and an offer for sale of up to 15,61,329 equity shares.
Those selling shares in the OFS include Oman India Joint Investment Fund II, American Capital, and Amicus Capital Private Equity.
The IPO comes in a price range of Rs 445-468 a share.
Capital Small Finance Bank on Tuesday collected Rs 157 crore from anchor investors.
It will utilise the proceeds from the fresh issue towards augmenting the tier-I capital base to meet its future capital requirements.
The Jalandhar-based bank, which began operations in 2016 after converting itself from a local area bank, is 24 per cent owned by the promoter family led by Sarvjit Singh Sarma and his family.
Nuvama Wealth Management, DAM Capital Advisors, and Equirus Capital are the managers to the offer.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)